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Oct 2, 2012
10/12
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ben bernanke said he's going to continue to buy bonds to keep interest rates down, so that this purchasing manager's number won't be an aberration. when you examine the fundamental stocks, you are playing what's known as the micro. when you take into account the big data numbers like the purchasing manager's index, you're making a macro analysis. again though like the idea of fighting the fed this micro/macro dichotomy might mean nothing to you unless you took ec 101. let's put it in terms that everybody can understand. anyone who's been to a museum or taken an art class knows that for years artists tried to paint pictures as if they were perfectly -- let's say they tried to capture the exact look. like a kodak camera. okay? that's called realism as the painters are indeed realistic. but as art progressed in the late 19th and early 20th century, you tend to get more -- let's say impressionist, less realist and then expressionists as the artists struggled to get beyond the four walls of the canvas, they took impressionism into the logical conclusion and coming up with spots and dots. my mod
ben bernanke said he's going to continue to buy bonds to keep interest rates down, so that this purchasing manager's number won't be an aberration. when you examine the fundamental stocks, you are playing what's known as the micro. when you take into account the big data numbers like the purchasing manager's index, you're making a macro analysis. again though like the idea of fighting the fed this micro/macro dichotomy might mean nothing to you unless you took ec 101. let's put it in terms that...
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Sep 27, 2012
09/12
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CNBC
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i believe the federal reserve's stance, brought about you by ben bernanke, will serve as a bridge over fiscal cliff and not take us down. the federal stance will take higher paying dividend companies into gems, seeking income, we'll band in bonds of cash poor countries and buy cash rick countries with yields that well exceed treasuries and still own a lot of gold. there's not a nation on earth that doesn't want its currency lower. that reserve currency is gold. also not to toot my own horn too hard, but throughout this period i recognized primecy of some bigger stocks, intel, wells fargo, verizon come to mind or the recognition you must own, not trade, own apple until it's too expensive versus it's growth rate and it's not near there yet. you have now heard pretty much everything. you've heard the last of when i've done over the last 12 months, at least for this evening. while i can already see the youtube about how cramer himself admits he's always getting things wrong, i thought for posterity i should lead with something more positive about "mad money," the youtube clips you post or
i believe the federal reserve's stance, brought about you by ben bernanke, will serve as a bridge over fiscal cliff and not take us down. the federal stance will take higher paying dividend companies into gems, seeking income, we'll band in bonds of cash poor countries and buy cash rick countries with yields that well exceed treasuries and still own a lot of gold. there's not a nation on earth that doesn't want its currency lower. that reserve currency is gold. also not to toot my own horn too...
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Sep 30, 2012
09/12
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. >> the money printing that ben bernanke has done. >> supporting the treasury and borrowing by obama. what romney understands, david, and president obama is clueless about, there's a big difference between tax credits and tax rates. cutting tax rates gives you incentive to invest in plant and equipment which then allows you to hire people, because you're going to get to keep an extra amount of money on each dollar of profit you make. cutting tax credits does not hurt incentive, because tax credits are temporary and does not encourage investment. >> steve, i want to keep it on the simplification, because that's success i can identify with. i haven't my own taxes in a long time. the reason is, because it's just too complex. i'm not a small business. if i was a small business, i'd have to do devote hundreds of hours of time, a lot of money, to figuring the thing out. >> that's right. the irs has figured out, david, that last year we spent 6.5 billion hours filling out tax forms, the equivalent of 2 1/2 million full-time jobs. it cost the economy $300 billion a year. huge waste of brain
. >> the money printing that ben bernanke has done. >> supporting the treasury and borrowing by obama. what romney understands, david, and president obama is clueless about, there's a big difference between tax credits and tax rates. cutting tax rates gives you incentive to invest in plant and equipment which then allows you to hire people, because you're going to get to keep an extra amount of money on each dollar of profit you make. cutting tax credits does not hurt incentive,...
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bernanke and his chief dinse to fail and their efforts at turning up the thermostat on economic growth and getting america back to work again and anyway how do you quantify this stimulus impact anyway well the latest issue of grants interest rate observer cites a paper or produced by the federal reserve bank of new york titled the macro an economic effects of large scale asset purchase programs and in it the authors conclude that that asset purchase programs have become the norm today increase g.d.p. growth by less than a half a percentage point although the fact on the level of g.d.p. is very persistent while the programs marginal contribution to inflation is very small so exacting down to that less than half a percentage point let's turn to our guest though jim graham founder and editor of grant's interest rate observer in new york for more so first jim grant thank you so much for being on the show always work pleasure or the pleasure is all ours because first i just have a really simple question in light of that report you cited in your latest grant interested observer how on earth
bernanke and his chief dinse to fail and their efforts at turning up the thermostat on economic growth and getting america back to work again and anyway how do you quantify this stimulus impact anyway well the latest issue of grants interest rate observer cites a paper or produced by the federal reserve bank of new york titled the macro an economic effects of large scale asset purchase programs and in it the authors conclude that that asset purchase programs have become the norm today increase...
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Oct 1, 2012
10/12
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WBAL
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fed chair ben bernanke's latest take on the economy will also get a lot of attention when minutes from the federal reserve's latest policy meeting are released. september auto sales are also on tap. some experts predict sales are up nearly 11% over last year. >>> meanwhile, according to aaa, the price of regular gas is down about five cents in the past week to an average $3.81 a gallon. >>> overseas this morning, uncertainty about spain's bailout weighed down asian stocks. thousands filled spain's capital this weekend to protest sweeping budget cuts and austerity measures included in a 2013 draft budget. >>> elsewhere, on the heals of apple's debut of the flawed apple app, oracle customers sl l have access to nokia's services. >>> hewlitt packard is set to roll out a new device that will work with microsoft's new windows 8 operating system. the elite pad 900 comes at a time when, according to new research, half of all adult americans now own either a tablet computer or a smart phone. >>> and finally, who says that crime doesn't pay? two guns that belonged to famed partners in crime bon
fed chair ben bernanke's latest take on the economy will also get a lot of attention when minutes from the federal reserve's latest policy meeting are released. september auto sales are also on tap. some experts predict sales are up nearly 11% over last year. >>> meanwhile, according to aaa, the price of regular gas is down about five cents in the past week to an average $3.81 a gallon. >>> overseas this morning, uncertainty about spain's bailout weighed down asian stocks....
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Oct 1, 2012
10/12
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WUSA
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bernanke said today america is feeling the impact. >> it has been a problem for the u.s. economy. we have seen head winds coming from slowing trade. >> reporter: if you combine imports and exports, the european union is our biggest trading partner. >> so we have a very strong interest in europe solving its problems. >> reporter: but the problem won't be solved quickly says ian brehmer who heads the eurasia group, a global research firm. what brings the europeans back to growth? no one started to address that issue. it's like saying what's going to bring the united states back to a healthy and manageable deficit. >> reporter: and the more imminent threat to the economy may be the so-called fiscal cliff. the ratings agency fitch has said uncertainty about u.s. fiscal policy is the single-biggest near-term threat to the global recovery. >> winston churchill once said that the americans always do the right thing but only after extinguishing every other possibility. that is precisely what the americans are doing here. >> reporter: bremmer believes washington won't go over that
bernanke said today america is feeling the impact. >> it has been a problem for the u.s. economy. we have seen head winds coming from slowing trade. >> reporter: if you combine imports and exports, the european union is our biggest trading partner. >> so we have a very strong interest in europe solving its problems. >> reporter: but the problem won't be solved quickly says ian brehmer who heads the eurasia group, a global research firm. what brings the europeans back to...
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Sep 26, 2012
09/12
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now ben bernanke is going to keep it flowing for as long as it takes. we could be for three days. plus, one more unthinkable, a slowing chinese economy. the great engine of growth that has supported global commerce for years. >> all aboard! >> including the darkest days of the great recession. and what's happened? the stock market never quit. never stopped climbing, it has a remarkable run with almost every sector leading the charge at one time or another, the great rotation. and before i go into the by remistations for the evening. i told you not to waver, to stay the course, the slowdown against china, and the growth that is the united states. the diverse portfolio of high-quality stocks, income producers, and growth stocks with solid dividend boosts. and of course, some gold. these have all been the correct calls to make. i've stuck with it because i believe the europeans are not suicidal. so far, so good on that front. i believe the chinese economy will simply come back by the virtue of the fact there is still tremendous urban migration within china. i believe the accommodativ
now ben bernanke is going to keep it flowing for as long as it takes. we could be for three days. plus, one more unthinkable, a slowing chinese economy. the great engine of growth that has supported global commerce for years. >> all aboard! >> including the darkest days of the great recession. and what's happened? the stock market never quit. never stopped climbing, it has a remarkable run with almost every sector leading the charge at one time or another, the great rotation. and...
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Oct 3, 2012
10/12
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CNBC
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i would reappoint ben bernanke as chairman of the federal reserve. if it weren't for him, he would never have gotten out of the great depression to begin with. without bernanke, we have nationalized the banks and be stuck with unemployment over 10%. here's the bottom line. nobody asked me. i'm not running. i'm not part of any debate. but i stand for higher stock prices for all. if you elect me,ly put through my plan to switch to clean burning natural gases, lower taxes on dividend, educate the masses on money, clean up the skies, rebuild our infrastructure and reappoint bernanke to give liberty, justice and higher stock prices for all. that's a platform i could vote for, if only obama or romney would embrace it. lawrence in texas, lawrence? >> caller: jim, how are you doing? i have a question for you today regarding rpm. the earning report came out today. long or short in the stock? >> short that, you have to short that plentiful dividend. i never recommend that idea. you don't want to do that, boss. i was going to recommend this and then i felt that
i would reappoint ben bernanke as chairman of the federal reserve. if it weren't for him, he would never have gotten out of the great depression to begin with. without bernanke, we have nationalized the banks and be stuck with unemployment over 10%. here's the bottom line. nobody asked me. i'm not running. i'm not part of any debate. but i stand for higher stock prices for all. if you elect me,ly put through my plan to switch to clean burning natural gases, lower taxes on dividend, educate the...
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before i get to you i want to hear what ben bernanke had to say about that recently. >> we see an economy which is expanding and employment which is one of the key indicators of recession still growing. we expect the economy to continue to grow. that is our best forecasts so we are not expecting a recession. ashley: what do you think? are we in a recession? >> i think if you look at the economic indicators in my mind you can always have numbers that say one thing or the other. are we in a technical recession? no. are we in an area of the economy where there is lack of job growth and people are struggling? where the job growth is coming we grab numbers and say we turned the corner. unemployment is structural these days. people have left the job force which is why we're seeing drops in unemployment and job growth going in the country and around the world we will have a difficult time getting out of this economic mess. the physical crisis, and a political mess. it is not about creating jobs. that can only be so much. a political economic problem is not a business problem. ashley: given the l
before i get to you i want to hear what ben bernanke had to say about that recently. >> we see an economy which is expanding and employment which is one of the key indicators of recession still growing. we expect the economy to continue to grow. that is our best forecasts so we are not expecting a recession. ashley: what do you think? are we in a recession? >> i think if you look at the economic indicators in my mind you can always have numbers that say one thing or the other. are...
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Sep 28, 2012
09/12
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my point here, carl, is don't fight ben bernanke. if he came out and said, ladies and gentlemen, me and mr. drogy and i want people to buy stewed prunes, everybody should listen carefully. you may think it's wrong, but i sure would not go out and short stewed prunes on that idea. that's the problem that a lot of people are having. a lot of people are underperforming the market because their ideologies are getting in the way. >> thank you. let's get another capital markets op-ed. gary, talk a little politics. >> we'll get to that in a second. i steered clear of politics for quite some time. but let me talk about a cool breeze about what's happened. think back to mid-august. we did that informal survey. we asked people what would be the most important factor for the equity markets in 2012. 65% said it was going to be the election, if you remember. it has not been the case since mid-august. and as e we said all along, it's been about central banks. i do think that's going to change. i think politics will once again become something that
my point here, carl, is don't fight ben bernanke. if he came out and said, ladies and gentlemen, me and mr. drogy and i want people to buy stewed prunes, everybody should listen carefully. you may think it's wrong, but i sure would not go out and short stewed prunes on that idea. that's the problem that a lot of people are having. a lot of people are underperforming the market because their ideologies are getting in the way. >> thank you. let's get another capital markets op-ed. gary,...
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in defense of fed's latest easing, big ben bernanke making his case in moments. rich edson is standing by live in indianapolis. >> and bacon prices sizzling higher but new doubts over whether there's actually going to be a global shortage. first let's take a look at some of today's s&p winners and losers. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and save you up to thousands of dollars in out-of-pocket costs. call today to request a free decision guide to help you better understand what medicare is all about. and which aarp medicare supplement plan works best for you. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a
in defense of fed's latest easing, big ben bernanke making his case in moments. rich edson is standing by live in indianapolis. >> and bacon prices sizzling higher but new doubts over whether there's actually going to be a global shortage. first let's take a look at some of today's s&p winners and losers. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an...
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Sep 26, 2012
09/12
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paul krugman, one, and now ben bernanke is pushing for higher inflation. is his real inflation target not 2%, but like 4%, 5%? if he could wave a magic wand, would he do that? >> they could have a secret vote. it would be in excess of three, for sure at least in the near term. the fed told us they would do whatever it takes to get what they want. they haven't exactly told us what they do or what they want. >> all right. what they want is a lower unemployment rate, isn't that fair? >> right. but they have lower unemployment in the price stability. what's going to happen is you're going to get fomc participants litigating the issue in public. like charlie plaszer yesterday talking about how policy won't be effective and charlie evans today talking about -- >> but they always do that. bernanke, that board is all obama appointees. and it's the liberal left keynesian board. it's an inflationist board. you as great economist and forecaster, right now the inflation numbers, they don't look scary at all. cpi, so forth, commodity prices, none of that stuff is boomi
paul krugman, one, and now ben bernanke is pushing for higher inflation. is his real inflation target not 2%, but like 4%, 5%? if he could wave a magic wand, would he do that? >> they could have a secret vote. it would be in excess of three, for sure at least in the near term. the fed told us they would do whatever it takes to get what they want. they haven't exactly told us what they do or what they want. >> all right. what they want is a lower unemployment rate, isn't that fair?...
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Oct 1, 2012
10/12
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september ism in less than an hour as well as a speech from ben bernanke. >> two big downgrades on two big companies. microsoft says momentum will slow. >> and facebook's stock is up 30% from the july lows. >>> and julia boorstin with a sitdown with facebook's cheryl sandberg. >>> futures ant rise and the fourth quarter gets under way. major indices coming off a third quarter that was their best quarterly performance in two years. but there's a lot for wall street to digest this week waiting for today's monetary policy speech from bernanke. and the big jobs number is coming up on friday. it's been said that q3 was characterized by expectations from central banks, that we got what we wanted and that's not necessarily going to be the picture for this quarter. >> you're fighting worldwide feds. if you don't like the market, i understand expectations lowered along with estimates lowered. all you have to do is beat estimates even if they're lowered and you have the various feds behind you. still got a good market. >> evans this morning on "squawk" is few moments ago saying he'd like to see
september ism in less than an hour as well as a speech from ben bernanke. >> two big downgrades on two big companies. microsoft says momentum will slow. >> and facebook's stock is up 30% from the july lows. >>> and julia boorstin with a sitdown with facebook's cheryl sandberg. >>> futures ant rise and the fourth quarter gets under way. major indices coming off a third quarter that was their best quarterly performance in two years. but there's a lot for wall street...
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Oct 1, 2012
10/12
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. >>> he was an advocate for open-ended qe long before fed chairman ben bernanke announced qe infinity. >> now chicago fed president charles evans is ready to take on critics of the plan. >>> we're kicking off the fourth quarter with the biggest bull of all the squawkmarket masters. the odds of hitting dow's 17,000 by the end of next year are looking better and better says jeremy siegel. the third hour of "squawk box" starts right now. ♪ >>> good morning again. welcome back to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin and our guest host has been craig barrett, the former chairman and ceo of intel, obviously we have a lot more to discuss with him but we also have many other big guests who are joining us through the hour, don't forget that this is the beginning of the fourth quarter, you can start it off with our portfolio strategy session, speaking with jeremy siegel about the market events likely to drive the fourth quarter including the november election. coming up at 8:30 a.m. eastern, cnbc's exclusive interview with chicago fed preside
. >>> he was an advocate for open-ended qe long before fed chairman ben bernanke announced qe infinity. >> now chicago fed president charles evans is ready to take on critics of the plan. >>> we're kicking off the fourth quarter with the biggest bull of all the squawkmarket masters. the odds of hitting dow's 17,000 by the end of next year are looking better and better says jeremy siegel. the third hour of "squawk box" starts right now. ♪ >>> good...
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Oct 3, 2012
10/12
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. >> ben bernanke sets up as the world's leading authority on the 1930s. why do we talk about nonstop about the 1930s? are they necessarily relevant? no, i answer my own question. let us allow markets to clear. how is that just for a start? >> so can a politician allow that? >> yes. >> i mean, let's talk about this a second. the politicians are looking at 8% unemployment rates. they've got to look like they're trying do something to bring that down. after all, they're -- >> but they're not. >> well -- they -- they haven't approved of any real legislation. so they're badgering the feds to do something about it. >> right. well, jim, you work for a living, right? >> i think so. >> you run businesses. does the uncertainty about what they are going to do next quarter with respect to the cost of money, with respect to qe end? does that help? does that embolden i was trying to say to you. >> that's okay. >> i just know what they are saying. >>> when we come back, we have at optionsxpress we're all about options trading. we create easy to use, powerful trading too
. >> ben bernanke sets up as the world's leading authority on the 1930s. why do we talk about nonstop about the 1930s? are they necessarily relevant? no, i answer my own question. let us allow markets to clear. how is that just for a start? >> so can a politician allow that? >> yes. >> i mean, let's talk about this a second. the politicians are looking at 8% unemployment rates. they've got to look like they're trying do something to bring that down. after all, they're --...
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Sep 25, 2012
09/12
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CSPAN
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ben bernanke has said that we have an unemployment rate that is way too high. he has proposed a way that he thinks would address that. do you think he is doing a good job and that this latest thing is in support of this economic growth and demand? >> they have better economic performance than this for monetary is criticized. there's a strong thought in this country that people on campaigns or associated with the executive branch do not comment on specific monetary actions of the fed. this is so important to the economic health of this country. i would say that nothing it has been helpful at all for the professional republicans. i think this is bad for the short term. >> i think there is a difference between politicizing in having an honest policy debate. i think the federal reserve's actions, and i have known that bernanke for a long time, i understand where he is coming from. i think that the fed's policy actions have exposed as to very little upside. i think it is absolutely almost patriotic to have a policy debate about whether it is a good idea to do what h
ben bernanke has said that we have an unemployment rate that is way too high. he has proposed a way that he thinks would address that. do you think he is doing a good job and that this latest thing is in support of this economic growth and demand? >> they have better economic performance than this for monetary is criticized. there's a strong thought in this country that people on campaigns or associated with the executive branch do not comment on specific monetary actions of the fed. this...
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Oct 2, 2012
10/12
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MSNBC
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. >> that was chairman of the federal reserve ben bernanke yesterday discussing the fed's impact on the recovery of the housing market. and joining us now, co-host of cnbc's squawk on the street david faber, and doug lebda. good to have you both onboard this morning. it seems to me housing always seems like a separate issue that maybe didn't get talked about as much. is that retrospectively incorrect? because it does seem so fundamental, david. >> it's fundamental in the economy in many ways. certainly helped us during the boom period in housing that we saw adding to gdp, construction, and so many other things. people refinancing their homes. it hasn't been discussed that much, you're right, particularly given that the president seems to have backed off a bit, perhaps, on a number of plans that would've relieved people from mortgages that they otherwise are not in a great position to pay but there was a lot of political opposition to that. but housing is starting to come back. we are starting to see real signs of not just stabilization but even perhaps some growth. doug can speak, i'm s
. >> that was chairman of the federal reserve ben bernanke yesterday discussing the fed's impact on the recovery of the housing market. and joining us now, co-host of cnbc's squawk on the street david faber, and doug lebda. good to have you both onboard this morning. it seems to me housing always seems like a separate issue that maybe didn't get talked about as much. is that retrospectively incorrect? because it does seem so fundamental, david. >> it's fundamental in the economy in...
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Sep 27, 2012
09/12
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one from the romney campaign -- i don't know what they were thinking, after the fed stood there and ben bernanke held a news conference saying they're going to go through another round of quantitative easing, printing money. the message to donors was this -- the "barack obama is at it again, spending your tax dollars per "two things about that -- the fed is reducing the deficit and making huge profits returning record amounts of money to the treasury as a result of all their previous quantitative easing. so the opposite of spending your tax dollars is true. and of course the fed is legally independent and run by guy appointed by george w. bush. so this was so completely over the top that we decided we have to do a piece on that particular e-mail. pretty much these messages to true believers exceed what we have already defunct. >> we are out of time. thank you for your attention. we appreciate your questions. [applause] >> coming at 4:30, we will be live at the un for a speech from the president of libya. he will be speaking before the general assembly gathered this week. coverage starti
one from the romney campaign -- i don't know what they were thinking, after the fed stood there and ben bernanke held a news conference saying they're going to go through another round of quantitative easing, printing money. the message to donors was this -- the "barack obama is at it again, spending your tax dollars per "two things about that -- the fed is reducing the deficit and making huge profits returning record amounts of money to the treasury as a result of all their previous...
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Oct 2, 2012
10/12
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. >> this is ben bernanke the chairman of the federal reserve. and this is a friday you were saying? >> a thursday night. >> and he's saying if you didn't take emergency action. >> we would not have an economy by monday. >> what does that mean? >> it's a horrible prospect. it means everything would disintegrate in terms of financial transactions and the rest. we went out and said time is of the essence regardless of the fact there was a presidential election seven weeks away. this happened on the president's watch. he was suggesting a solution. i said we must work together in a bipartisan way to get this done. but the fact is is that they knew, they were withholding the information from congress because they were hoping to get to the election, in my view. but the fact is four years ago the end of september if we didn't act immediately, we would not have an economy by monday. that would have been a disaster for our country. so while we want to do more to help individual families and the republicans instructed that in the last two years, the fact i
. >> this is ben bernanke the chairman of the federal reserve. and this is a friday you were saying? >> a thursday night. >> and he's saying if you didn't take emergency action. >> we would not have an economy by monday. >> what does that mean? >> it's a horrible prospect. it means everything would disintegrate in terms of financial transactions and the rest. we went out and said time is of the essence regardless of the fact there was a presidential election...